ITC Ltd reports higher profits led by cigarette sales

Feb.07.2023

ITC Ltd reports higher profits led by cigarette sales

ITC Ltd reports higher-than-expected profits buoyed by strong cigarette sales and stable demand for packaged foods in India.

On Friday, ITC Ltd, a conglomerate in India, announced its quarterly profits which exceeded expectations due to strong cigarette sales, as well as stable demand for its packaged food products.

The business conglomerate, which operates in the tobacco and hotel industries, has announced a rise in profits for the October-December quarter. The profits have increased from 41.56 billion rupees to 50.31 billion rupees ($614 million) compared to the same period last year.

According to Refinitiv IBES, analysts predict that profits will increase to INR 47.44 billion (USD 573 million) on average.

ITC, which owns numerous brands including Sunfeast and Classmate, stated in a declaration that consumer sentiment has improved this quarter.

As commodity inflation continues to slow down, economic activity in India is gaining momentum.

ITC's overall operating revenue has increased by approximately 3%, reaching INR 172.65 billion ($2.08 billion), with over 40% of that coming from its cigarette business.

This business possesses the Classic and Gold Flake brands, with revenue growth of nearly 17% to 72.88 billion rupees.

This week in India, the cigarette industry is facing challenges in the wake of a potential 16% increase in taxes due to it being considered a national disaster. Some analysts believe that this could result in a "moderate" 1.5% increase in taxes. Others suggest that ITC should respond by raising prices.

ITC's fast-moving consumer goods (FMCG) business, which includes a combination of biscuits, noodles, snacks, and dairy products, has reported an 18% growth in revenue. The company plans to acquire Sproutlife Foods, the maker of Yoga Bars, to expand its nutrition-led health food business.

#Asia #Market #Japan #May data #Report

This document has been generated through artificial intelligence translation and is provided solely for the purposes of industry discourse and learning. Please note that the intellectual property rights of the content belong to the original media source or author. Owing to certain limitations in the translation process, there may be discrepancies between the translated text and the original content. We recommend referring to the original source for complete accuracy. In case of any inaccuracies, we invite you to reach out to us with corrections. If you believe any content has infringed upon your rights, please contact us immediately for its removal.

China Tobacco Regulation Shift：Policy Updates and Market Impact

China Tobacco Regulation Shift：Policy Updates and Market Impact

Exclusive | China Releases E-Cigarette Regulatory “Status Report”, First Comprehensive Disclosure of Oversight Framework and International Cooperation

Exclusive | China Releases E-Cigarette Regulatory “Status Report”, First Comprehensive Disclosure of Oversight Framework and International Cooperation

As 2025 draws to a close, China’s State Tobacco Monopoly Administration has released a white paper–style “Status Report” on e-cigarette regulation, systematically outlining its oversight framework, enforcement outcomes and international cooperation. 2Firsts provides exclusive in-depth reporting and analysis, offering insight into China’s regulatory logic and governance direction.

Dec.29 by 2Firsts Perspectives

Ispire Q2 FY2026 revenue falls to $20.3M as it trims lower-quality customers; A/R down nearly 20%

Ispire Q2 FY2026 revenue falls to $20.3M as it trims lower-quality customers; A/R down nearly 20%

Ispire reported a sharp year-on-year revenue decline in Q2 FY2026 as it shifted away from lower-quality customers, while cutting operating expenses and narrowing its net loss. The company also highlighted improved collections, with net accounts receivable down nearly one-fifth since June 30, 2025, alongside ongoing manufacturing and technology initiatives.

Feb.09 by 2FIRSTS.ai

Before the Boom: Why Manufacturing Is Becoming the Deciding Factor in U.S. Nicotine Pouches — An Interview with Rena World

Before the Boom: Why Manufacturing Is Becoming the Deciding Factor in U.S. Nicotine Pouches — An Interview with Rena World

As the U.S. nicotine pouch market moves toward regulatory clarity and rapid growth, attention is shifting from demand to execution. In an interview with 2Firsts, U.S.-based manufacturer Rena explains why manufacturing capacity, quality systems, and compliance readiness are becoming decisive factors before the market fully takes off.

Five Inner West Sydney shops shut for 90 days after 780,000 illicit cigarettes and 2,200 illegal vapes seized

Five Inner West Sydney shops shut for 90 days after 780,000 illicit cigarettes and 2,200 illegal vapes seized

NSW Health has shut down five Inner West Sydney stores for 90 days after a major seizure of illicit cigarettes and illegal vapes, with two additional premises in Northern NSW also served closure notices. The action forms part of a broader crackdown that has seen 66 stores closed since new laws took effect in late 2025, with NSW Health warning further enforcement — including prosecution — may follow.

Feb.09 by 2FIRSTS.ai

Brazil’s federal prosecutors sue for strict e-cigarette rules, urging regulation over a “paper ban”

Brazil’s federal prosecutors sue for strict e-cigarette rules, urging regulation over a “paper ban”

Brazil’s Federal Public Prosecutor’s Office (MPF) has filed a public civil action seeking to compel the federal government and Anvisa to establish a strict, enforceable regulatory framework for electronic smoking devices, replacing the current blanket ban. The lawsuit calls for mandatory product registration, nicotine caps, bans on youth-targeted advertising, and clear health warnings on packaging, and demands a national consumption report and an implementation timetable within 90 days.

Jan.30 by 2FIRSTS.ai

Haypp Report Shows Mint Tops Nicotine Pouch Flavours, Berry Leads Vapes in the UK

Haypp Report Shows Mint Tops Nicotine Pouch Flavours, Berry Leads Vapes in the UK

Online retailer Haypp has released its 2025 Haypp Wrapped report, detailing flavour and brand preferences among UK nicotine pouch and vape users. The report found that mint flavours dominated the nicotine pouch market, while berry flavours were most popular among vape users. Velo and Nordic Spirit led the nicotine pouch category, while Elf Bar and Vuse topped the vape brand rankings.

Dec.24 by 2FIRSTS.ai

Related Topics

News

Related Read

Exclusive | China Releases E-Cigarette Regulatory “Status Report”, First Comprehensive Disclosure of Oversight Framework and International Cooperation

Exclusive | China Releases E-Cigarette Regulatory “Status Report”, First Comprehensive Disclosure of Oversight Framework and International Cooperation

2Firsts Perspectives

Ispire Q2 FY2026 revenue falls to $20.3M as it trims lower-quality customers; A/R down nearly 20%

Ispire Q2 FY2026 revenue falls to $20.3M as it trims lower-quality customers; A/R down nearly 20%

Before the Boom: Why Manufacturing Is Becoming the Deciding Factor in U.S. Nicotine Pouches — An Interview with Rena World

Before the Boom: Why Manufacturing Is Becoming the Deciding Factor in U.S. Nicotine Pouches — An Interview with Rena World

Five Inner West Sydney shops shut for 90 days after 780,000 illicit cigarettes and 2,200 illegal vapes seized

Five Inner West Sydney shops shut for 90 days after 780,000 illicit cigarettes and 2,200 illegal vapes seized

Brazil’s federal prosecutors sue for strict e-cigarette rules, urging regulation over a “paper ban”

Brazil’s federal prosecutors sue for strict e-cigarette rules, urging regulation over a “paper ban”

Haypp Report Shows Mint Tops Nicotine Pouch Flavours, Berry Leads Vapes in the UK

Haypp Report Shows Mint Tops Nicotine Pouch Flavours, Berry Leads Vapes in the UK